It is well known in the valve art that the most efficient flow path through a flow control valve is one which is short as possible between an inlet port and an outlet port. Heretofore, four-way fluid flow control valves ordinarily require a base member on which is mounted a body member carrying a valve spool member, and with the inlet and outlet passages extending through both the base member and the body member, and then back into the base member for outlet purposes. Such a prior art valve structure permits the removal of the valve body from the base of the valve without disconnecting any conduits attached to the base entrance and exit ports for conveying fluid to and from the valve. However such prior art valve structures require many turns in the flow of the fluid through the valve. For example, in valves having the inlet and outlet ports on the side of the base member, there are required at least eight right angle turns to be made by the fluid between the inlet and outlet ports. U.S. Pat. No. 3,680,596 discloses a spool type reversing valve, which has the valve spool slidably mounted in a valve body, which is in turn mounted on a valve base. When the fluid passes through a valve such as that shown in the last mentioned patent it must make many right angle turns, and at each turn there is a pressure drop. In an attempt to decrease the number of right angle turns in a flow circuit through a four-way reversing valve it has been heretofore proposed that a circular flow pattern through the valve body be employed to increase the flow efficiency. Such a flow pattern is illustrated in U.S. Pat. No. 3,089,517. However the circular flow path employed in the last mentioned patent still employs about as many right angle turns, or substantially right angle turns, as are employed in the valve shown in the first mentioned patent, in the fluid flow circuit therethrough. Another prior art reversing valve employing a circular flow path, with many right angle turns, is shown in U.S. Pat. No. 3,952,775.